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Analysis for January 8th, 2013

EUR/USD

The EUR/USD currency pair continues forming an ascending wave. Today the price may consolidate for a while at the current levels and then continue growing up; a local target is at the level of 1.3190. Later, in my opinion, the pair may form a slight correction and move upwards to reach the target at 1.3200. This may be the end of the first ascending wave, followed by a new correction.

GBP/USD

The GBP/USD currency pair is forming another ascending wave. I think today the price may reach a local target at 1.6150. Later, after a slight correction, the pair may start a new ascending movement to reach the level of 1.6200.

USD/CHF

The USD/CHF currency pair continues forming another descending wave. Today the price may consolidate for a while at the current levels and then continue falling down towards a local target at the level of 0.9160. Later, in my opinion, the pair may form a slight correction and move downwards to reach the target at 0.9140.

AUD/USD

The AUD/USD currency pair continues forming an ascending structure. Today the pair may reach the level of 1.0550. Later, in my opinion, the price may start a correction and return to the level of 1.0475.

GOLD

Gold is starting a new ascending structure and forming a five-wave correction towards the level of 1707. I think today the instrument may grow up and reach a local target at 1690.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.